Rhode Island’s average gas price is up 6 cents from last week, averaging $3.54 per gallon. Monday’s price is 5 cents lower than a month ago, and 29 cents higher than October 17, 2021. Rhode Island’s average gas price is 34 cents lower than the national average.
“Despite concerns about the economy and declining demand for gasoline, gas prices increased again last week as markets continue to reckon with recently-announced production cuts from OPEC+ nations and the prospect of a colder-than-normal winter in the Northeast,” said Diana Gugliotta, Director of Public Affairs for AAA Northeast. “Even though national inventories of gas and oil increased last week, supplies are still well below seasonal averages and refiners have sparse capacity to increase production.”
AAA Northeast’s October 17 survey of fuel prices found the current national average to be 3 cents lower than last week , averaging $3.88 a gallon. Monday’s national average price is 20 cents higher than a month ago, and 57 cents higher than this day last year.
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